Why are the tires in Formula 1 so high profile?

Why do Formula 1 cars have such high profile tyres? Usually circuit racing has very low profile tyres.

This is an age old questions. The current regulations state that the wheel must be 13 inches in diameter. This is a relic from the age where wheel sizes were used to limit brake caliper sizes. If the calipers were bigger, then power of the breaks would be significantly bigger. There has been discussion on switching to 17, 18 or 19 inch wheels, but it remains in process.